Baishaquan Financial Street opens in Beishan Sub-district in northern Xihu District today. It is the first financial street focusing on merger and acquisition in Zhejiang Province.
In 2023, the cross-border M&A deals sealed by financial institutions on the street is expected to reach 30 billion yuan (US$4.55 billion), while domestic M&A deals amounting to 70 billion yuan.
The First Global M&A Financial Summit also kicked off today, and two funds of more than 10 billion yuan have been set up to help boost mergers and acquisitions. Since last December, more than 150 enterprises with total fund of 10 billion yuan have been set up on the street.